Box, Inc. (NYSE:BOX) Stock Position Increased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. grew its position in Box, Inc. (NYSE:BOX) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,733 shares of the software maker’s stock after purchasing an additional 664 shares during the period. Summit Investment Advisors Inc.’s holdings in BOX were worth $466,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in shares of BOX by 5.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock worth $247,000 after buying an additional 391 shares during the period. Farther Finance Advisors LLC boosted its position in BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after acquiring an additional 417 shares during the period. Sanctuary Advisors LLC grew its stake in shares of BOX by 1.2% in the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock worth $1,189,000 after purchasing an additional 423 shares in the last quarter. Aspiriant LLC increased its holdings in shares of BOX by 5.0% during the fourth quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock valued at $286,000 after purchasing an additional 427 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of BOX by 2.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock valued at $548,000 after purchasing an additional 442 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Down 0.4 %

Shares of NYSE BOX opened at $29.65 on Friday. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 4.42 and a beta of 0.96. The stock’s fifty day simple moving average is $31.64 and its 200 day simple moving average is $32.33.

BOX announced that its Board of Directors has approved a share buyback program on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, VP Eli Berkovitch sold 5,651 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $30.66, for a total value of $173,259.66. Following the completion of the sale, the vice president now owns 124,672 shares in the company, valued at $3,822,443.52. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Olivia Nottebohm sold 6,079 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $31.91, for a total value of $193,980.89. Following the completion of the sale, the chief operating officer now directly owns 447,067 shares of the company’s stock, valued at approximately $14,265,907.97. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,996 shares of company stock valued at $2,329,886. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on BOX shares. Morgan Stanley lowered their target price on shares of BOX from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Raymond James restated an “outperform” rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. DA Davidson decreased their price target on BOX from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. cut their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, BOX presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.44.

About BOX

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.